EA Post $45 Million Net Loss, Medal of Honor Shelved
The third quarter wasn’t kind to Electronic Arts.
The company posted a $45 million loss for the quarter, ending Dec. 31, 2012. However, it was still better than last year when they had a net loss of $205 million. Net revenue declined from $1.061 million in 2011 to $921 million in 2012.
“The economy hasn’t gotten any stronger,” EA chief financial officer Blake Jorgensen said. “It’s a little early for me to know how strong the market’s going to be, so based on that we widened our range for revenue for the fourth quarter and brought our guidance down slightly just to make sure we’re prudent.”
Part of the loss has been placed on poor reception of Medal of Honor: Warfighter. The MOH brand is now “out of rotation” for EA.
“The game was solid, but the focus on combat authenticity did not resonate with consumers,” EA COO Peter Moore said. “Critics were polarized and gave the game scores which were, frankly, lower than it deserved. This one is behind us now. We are taking Medal of Honor out of the rotation and have a plan to bring year-over-year continuity to our shooter offerings.”
In other EA news, Battlefield 3 Premium now has 2.9 million subscribers, earning the company $108 million.
Also, Fuse, the upcoming title from Insomniac Games, has been delayed to sometime between April and June of 2013.